MIND

[dan_s]

Mitcham Industries, Inc. (MIND) today announced that it will release financial results for its fiscal 2013 second quarter ended July 31, 2012 after the market closes on Wednesday, September 5, 2012. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Thursday, September 6, 2012 at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time.

MIND should report good Q2 results and I believe they remain on-track for the best year in company history. Global demand for seismic remains very high (tied to oil prices).

[setliff]

in last 90 days the first call est for eps has fallen from 34c to 5c. in last seven days it was taken down from 21c to 5c.

now according to yahoo there are only two analysts involved.

dan, you have any background on why the drastic drop in that est?

i do notice your est is 34c.

jim

[dan_s]

Keep in mind that First Call EPS estimates exclude the Canadian tax settlement that will more than offset the weather related decline in equipment leasing. The hardest thing to forecast for MIND is the Seamap sales. Revenues are only recognized when sales are closed.

Reasons are all in their August 9 press release.

My updated forecast is on the website under the Sweet 16 Tab.